Dex Liquidating (CRDC) Inactive 10-Q12 Nov 142015 Q1 Quarterly reportFinancial data

Company Profile

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
Document And Entity Information	Sep. 30, 2014	Nov. 06, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'CARDICA INC	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--06-30	'
Entity Common Stock, Shares Outstanding	'	88,955,216
Amendment Flag	'false	'
Entity Central Index Key	'0001178104	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Well-known Seasoned Issuer	'No	'
Document Period End Date	30-Sep-14	'
Document Fiscal Year Focus	'2015	'
Document Fiscal Period Focus	'Q1	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Sep. 30, 2014	Jun. 30, 2014
In Thousands, unless otherwise specified	Sep. 30, 2014	Jun. 30, 2014
Current assets:	'	'
Cash and cash equivalents	$1,122	$5,395
Short-term investments	33,292	35,086
Accounts receivable	781	706
Inventories	1,225	1,086
Prepaid expenses and other current assets	351	349
Total current assets	36,771	42,622
Property and equipment, net	2,362	2,536
Long-term investments	3,552	2,315
Restricted cash	104	104
Total assets	42,789	47,577
Current liabilities:	'	'
Accounts payable	1,112	847
Accrued compensation	608	899
Other accrued liabilities	472	508
Current portion of deferred revenue	403	403
Total current liabilities	2,595	2,657
Deferred revenue, net of current portion	2,125	1,610
Note payable	2,637	3,092
Other non-current liabilities	27	33
Total liabilities	7,384	7,392
Commitments and contingencies	'	'
Stockholders' equity:	'	'
Preferred stock, $0.001 par value: 5,000,000 shares authorized: 191,474 shares issued and outstanding at September 30, 2014, and June 30, 2014	17,214	17,214
Common stock, $0.001 par value: 125,000,000 shares authorized: 89,017,443 and 89,005,443 shares issued and 88,951,216 and 88,939,216 shares outstanding at September 30, 2014, and June 30, 2014, respectively	89	89
Additional paid-in capital	194,308	194,015
Treasury stock at cost (66,227 shares at September 30, 2014, and June 30, 2014)	-596	-596
Accumulated comprehensive loss	-18	-10
Accumulated deficit	-175,592	-170,527
Total stockholders' equity	35,405	40,185
Total liabilities and stockholders' equity	$42,789	$47,577

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) (USD $)	Sep. 30, 2014	Jun. 30, 2014
Preferred stock, par value (in Dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	191,474	191,474
Preferred stock, shares outstanding	191,474	191,474
Common stock, par value (in Dollars per share)	$0.00	$0.00
Common stock, shares authorized	125,000,000	125,000,000
Common stock, shares issued	89,017,443	89,005,443
Common stock, shares outstanding	88,951,216	88,939,216
Treasury stock shares	66,227	66,227

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Net revenue:	'	'
Product sales, net	$1,051	$746
License and development revenue	'	41
Royalty revenue	17	18
Total net revenue	1,068	805
Operating costs and expenses:	'	'
Cost of product sales	1,633	1,001
Research and development	1,736	1,657
Selling, general and administrative	2,658	1,768
Total operating costs and expenses	6,027	4,426
Loss from operations	-4,959	-3,621
Interest income	13	4
Interest expense	-110	-122
Other income (expense),net	-9	'
Net loss	($5,065)	($3,739)
Basic and diluted net loss per share (in Dollars per share)	($0.06)	($0.07)
Shares used in computing basic and diluted net loss per share (in Shares)	89,012	51,089

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Net loss	($5,065)	($3,739)
Changes in market value of investments:	'	'
Change in unrealized gain (loss) on investments, net	-8	3
Comprehensive loss	($5,073)	($3,736)

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Operating activities:	'	'
Net loss	($5,065)	($3,739)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Depreciation and amortization	356	356
Amortization of premiums on marketable securities	138	43
Loss on disposal or retirement of property and equipment	66	'
Stock-based compensation expense	313	89
Non cash interest expense	60	72
Changes in operating assets and liabilities:	'	'
Accounts receivable	-75	111
Prepaid expenses and other current assets	-2	52
Inventories	-139	-88
Accounts payable and other accrued liabilities	223	230
Accrued compensation	-291	-125
Deferred revenue	'	-41
Net cash used in operating activities	-4,416	-3,040
Investing activities:	'	'
Purchases of property and equipment	-248	-12
Proceeds from maturities of short-term investments	2,500	2,200
Purchases of short-term investments	-2,089	-2,696
Net cash used in investing activities	163	-508
Financing activities:	'	'
Net proceeds from issuances of common stock	-20	111
Net decrease in cash and cash equivalents	-4,273	-3,437
Cash and cash equivalents at beginning of period	5,395	6,373
Cash and cash equivalents at end of period	1,122	2,936
Supplemental disclosure of cash flow information:	'	'
Interest paid	50	50
Supplemental disclosure of non-cash information:	'	'
Incremental debt discount relating to note extension	$515	'

Note_1_Summary_of_Significant_

Note 1 - Summary of Significant Accounting Policies	3 Months Ended
Note 1 - Summary of Significant Accounting Policies	Sep. 30, 2014
Accounting Policies [Abstract]	'
Significant Accounting Policies [Text Block]	'
	NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

	Organization

	Cardica, Inc. (the “Company”) was incorporated in the state of Delaware on October 15, 1997, as Vascular Innovations, Inc. On November 26, 2001, the Company changed its name to Cardica, Inc. The Company is commercializing and developing a microcutter product line based on its proprietary “staple-on-a-strip” technology intended for use by thoracic, pediatric, bariatric, colorectal and general surgeons. The microcutter product line consists of the currently commercially-available MicroCutter XCHANGE® 30, a cartridge based microcutter device with a 5 millimeter shaft diameter and a 30 millimeter staple line, and products in development, including the MicroCutter XCHANGE® 45, a cartridge based microcutter device with an 8 millimeter shaft and a 45 millimeter staple line, the MicroCutter FLEXCHANGE™ 30, a cartridge based microcutter device with a flexible shaft to facilitate endoscopic procedures requiring cutting and stapling, and the MicroCutter XPRESS® 45, a multi-fire endolinear microcutter device with a 45 millimeter staple line specifically designed for the bariatric and thoracic surgery markets.

	In March 2012, the Company completed the design verification for and applied Conformité Européenne, or the CE Mark, to the MicroCutter XCHANGE 30 and, in December 2012, began a controlled commercial launch of the MicroCutter XCHANGE 30 in Europe. The Company received from the United States Food and Drug Administration, or FDA, 510(k) clearance for the MicroCutter XCHANGE 30 and blue cartridge in January 2014, and for the white cartridge in February 2014, for use in multiple open or minimally-invasive surgical procedures for the transection, resection and/or creation of anastomoses in small and large intestine, as well as the transection of the appendix. The blue cartridge is for use in medium thickness tissue, and the white cartridge is for use in thin tissue. In March 2014, the Company made its first sale of the MicroCutter XCHANGE 30 in the United States. The Company also recently submitted the MicroCutter XCHANGE 30 blue and white cartridges application to Health Canada for regulatory approval of the MicroCutter XCHANGE 30 and, if the Company receives approval, anticipates launching it in Canada. In addition, in August 2013, the Company’s exclusive distributor in Japan, Century Medical, Inc., or Century, filed for regulatory approval of the MicroCutter XCHANGE 30 cartridges with the Pharmaceuticals and Medical Devices Agency in Japan and, upon approval, anticipates launching the MicroCutter XCHANGE 30 in Japan.

	Historically, the Company generated product revenues primarily from the sale of automated anastomotic systems; however, the Company generated revenues from the commercial sales of the MicroCutter XCHANGE 30 since its introduction in Europe in December 2012, and in the United States in March 2014, and for the first quarter of fiscal 2015, approximately 40% of its product revenues were from sales of the MicroCutter XCHANGE 30. Through September 30, 2014, the Company generated $1.1 million of product revenues from the commercial sales of the MicroCutter XCHANGE 30.

	For the three months ended September 30, 2014, the Company generated net revenue of $1.1 million, including, $0.7 million from automated anastomotic systems and $0.4 million from commercial sales of the MicroCutter XCHANGE 30.

	Basis of Presentation

	The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual financial statements. In the opinion of management, all adjustments, consisting only of normal recurring adjustments necessary for the fair statement of balances and results have been included. The results of operations of any interim period are not necessarily indicative of the results of operations for the full year or any other interim period.

	The accompanying condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto for the fiscal year ended June 30, 2014, included in the Company’s Form 10-K filed with the Securities and Exchange Commission on September 25, 2014.

	Recently Issued Accounting Standards

	In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606): Revenue from Contracts with Customers, which guidance in this update will supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance when it becomes effective. ASU No. 2014-09 affects any entity that enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards. The core principal of ASU No. 2014-09 is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under current guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. ASU No. 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, which will be the Company’s fiscal year 2018 (or July 1, 2017), and entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. Early adoption is prohibited. The Company will be evaluating the impact of the adoption of this guidance on the Company’s financial statements.

	In July 2013, the FASB issued an accounting standard update which states that an unrecognized tax benefit should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. In situations where a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction or the tax law of the jurisdiction does not require, and the entity does not intend to use the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The guidance will be effective prospectively for reporting periods beginning after December 15, 2013. The Company does not expect the adoption of this guidance to have a material impact on the Company’s financial statements.

	Use of Estimates

	The preparation of financial statements in conformity with GAAP generally requires management to make estimates and assumptions that affect the amounts reported in the financial statements. Significant estimates include the valuation of inventory, measurement of stock based compensation, valuation of financial instruments and revenue recognition. Actual results could materially differ from these estimates.

	Revenue Recognition

	The Company recognizes revenue when four basic criteria are met: (1) persuasive evidence of an arrangement exists; (2) title or rights have transferred; (3) the fee is fixed or determinable; and (4) collectability is reasonably assured. The Company uses contracts and customer purchase orders to determine the existence of an arrangement. The Company uses contractual terms, shipping documents and third-party proof of delivery to verify that title or rights have transferred. The Company assesses whether the fee is fixed or determinable based upon the terms of the agreement associated with the transaction. To determine whether collection is probable, the Company assesses a number of factors, including past transaction history with the customer and the creditworthiness of the customer. If the Company determines that collection is not reasonably assured, then the recognition of revenue is deferred until collection becomes reasonably assured, which is generally upon receipt of payment.

	The Company records product sales net of estimated product returns and discounts from the list prices for its products. The amounts of product returns and the discount amounts have not been material to date. The Company’s sales to distributors do not include price protection or product return rights, outside of standard warranties. The Company includes shipping and handling costs in cost of product sales.

	Payments that are contingent upon the achievement of a substantive milestone are recognized in their entirety in the period in which the milestone is achieved, subject to satisfaction of all revenue recognition criteria at that time. Revenue generated from license fees and performing development services is recognized when it is earned and non-refundable upon receipt of payments, over the period of performance, or upon incurrence of the related development expenses in accordance with contractual terms, based on the actual costs incurred to date plus overhead costs for certain project activities. Amounts paid but not yet earned on a project are recorded as deferred revenue until such time as the related development expenses plus overhead costs for certain project activities are incurred.

	Inventories

	Inventories are recorded at the lower of cost or market on a first-in, first-out basis. The Company periodically assesses the recoverability of all inventories, including materials, work-in-process and finished goods, by comparing the cost of inventory to expected selling prices to determine whether adjustments for impairment are required. Inventory that is obsolete or in excess of forecasted usage is written down to its estimated net realizable value based on assumptions about future demand and market conditions. Reduced demand may result in the need for inventory write-downs in the near term. Inventory write-downs are charged to cost of product sales and establish a lower cost basis for the inventory.

	Risks and Uncertainties

	The Company depends upon a number of key suppliers, including single source suppliers, the loss of which would materially harm the Company’s business. Single source suppliers are relied upon for certain components and services used in manufacturing the Company’s products. The Company does not have long-term contracts with any of the suppliers; rather, purchase orders are submitted for each order. Because long-term contracts do not exist, none of the suppliers are required to provide the Company any guaranteed minimum quantities.

Note_2_Stockholders_Equity

Note 2 - Stockholders' Equity	3 Months Ended
Note 2 - Stockholders' Equity	Sep. 30, 2014
Stockholders' Equity Note [Abstract]	'
Stockholders' Equity Note Disclosure [Text Block]	'
	NOTE 2 - STOCKHOLDERS' EQUITY

	Common Stock and Preferred Stock

	In April 2014, the Company sold 37,375,000 shares of its common stock at $0.85 per share, and 191,474 shares of Series A Convertible Preferred Stock at $85 per share. The Series A convertible preferred stock is non-voting and is convertible into shares of its common stock at a conversion rate of 100 shares of common stock for each share of Series A convertible preferred stock, provided that conversion will be prohibited if, as a result, the holder and their affiliates would own more than 9.98% of the total number of shares of the Company’s common stock then outstanding unless the holder gives the Company at least 61 days prior notice of an intent to convert into shares of common stock that would cause the holder to own more than 9.98% of the total number of shares of common stock then issued and outstanding. Net proceeds from the financing to the Company were approximately $44.7 million. For fiscal year ended June 30, 2014, the Company recorded a deemed dividend of $1.9 million related to beneficial conversion feature of series A convertible preferred stock. A one-time beneficial conversion charge was due to the difference between the common stock price and conversion price on the closing date of the Company’s public offering in April 2014.

	On August 3, 2011, the Company entered into the At The Market Issuance Sales Agreement (the “ATM Agreement”) with McNicoll, Lewis & Vlak LLC (“MLV”), which provided that, upon the terms and subject to the conditions and limitations set forth therein, the Company could issue and sell up to $10.0 million of the Company’s common stock through MLV as the Company’s sales agent over the term of the ATM Agreement. As of September 30, 2014, the Company had received net proceeds of $1.2 million, from the sale of an aggregate of 884,756 shares of common stock through MLV. During the three months ended September 30, 2014, the Company did not sell any shares of common stock through MLV. During the three months ended September 30, 2013, the Company received net proceeds of $0.1 million from the sale of an aggregate of 97,405 shares of common stock through MLV. The ATM Agreement expired on August 2, 2014.

	Stock-Based Compensation

	Stock-based compensation expense related to employee and director share-based compensation plans, including stock options and restricted stock units, or RSUs, pursuant to Accounting Standards Codification, or ASC, 718 “Compensation — Stock Compensation”. Stock-based compensation cost is measured on the grant date, based on the fair value-based measurement of the award and is recognized as an expense over the requisite service period which generally equals the vesting period of each grant. The Company recognizes compensation expense using the accelerated method and the Company accounts for the non-employee share-based grants pursuant to ASC 505-50, Equity Based Payments to Non-Employees.

	The Company selected the Black-Scholes option pricing model for determining the estimated fair value-based measurements of share-based awards. The use of the Black-Scholes model requires the use of assumptions including expected term, expected volatility, risk-free interest rate and expected dividends. The Company used the following assumptions in its fair value-based measurements:

		Three months ended
		September 30,
		2014				2013
	Risk-free interest rate	1.59%	-	1.65%		1.18%	-	1.20%
	Weighted-average expected term (years)	4.83	-	4.86		4.52	-	4.58
	Expected volatility	71.00%	-	72.10%		79.40%	-	79.70%

	The Company estimates the expected life of options granted based on historical exercise and post-vest cancellation patterns, which the Company believes are representative of future behavior. The risk-free interest rate for the expected term of each option is based on a risk-free zero-coupon spot interest rate at the time of grant. The Company has never declared or paid any cash dividends and does not presently plan to pay cash dividends in the foreseeable future. The expected volatility is based on the Company’s historical stock price. The Company estimates forfeitures in calculating the expense related to stock-based compensation. The Company recorded stock-based compensation expenses under ASC 718 of $0.2 million, or $0.00 per share, and $0.1 million, or $0.00 per share for the three months ended September 30, 2014 and 2013, respectively. The Company recorded stock-based compensation expenses under ASC 505-50 of $0.1 million, or $0.00 per share and $4,000 or $0.00 per share for the three months ended September 30, 2014 and 2013, respectively. Total compensation expense related to unvested awards not yet recognized is approximately $0.8 million at September 30, 2014, and is expected to be recognized over a weighted average period of 3.2 years.

	Included in the statement of operations are the following non-cash stock-based compensation expenses (in thousands):

		Three months ended
		September 30,
		2014			2013
	Cost of product sales	$	30		$	16
	Research and development		63			(28	)
	Selling, general and administrative		220			101
	Total	$	313		$	89

Note_3_Net_Loss_Per_Share

Note 3 - Net Loss Per Share	3 Months Ended
Note 3 - Net Loss Per Share	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share [Text Block]	'
	NOTE 3 - NET LOSS PER SHARE

	Basic net loss per common share is calculated by dividing net loss by the weighted-average number of common shares outstanding for the period less the weighted-average unvested common shares subject to repurchase, and without consideration of potential common shares. Diluted net loss per common share is computed by dividing net loss by the weighted-average number of common shares outstanding for the period, less the weighted-average unvested common shares subject to repurchase, plus dilutive potential common shares for the period determined using the treasury-stock method. For purposes of this calculation, options and warrants to purchase stock and unvested restricted stock awards are considered to be potential common shares and are only included in the calculation of diluted net loss per share when their effect is dilutive.

	In the years the Preferred Stock is outstanding, the two-class method is used to calculate basic and diluted earnings (loss) per common share since it is a participating security under ASC 260 Earnings per Share. The two-class method is an earnings allocation formula that determines earnings per share for each class of common stock and participating security according to dividends declared (or accumulated) and participation rights in undistributed earnings. Under the two-class method, basic earnings (loss) per common share is computed by dividing net earnings (loss) attributable to common share after allocation of earnings to participating securities by the weighted-average number of common shares outstanding during the year. Diluted earnings (loss) per common share is computed using the more dilutive of the two-class method or the if-converted method. In periods of net loss, no effect is given to participating securities since they do not contractually participate in the losses of the Company.

	The following table sets forth the computation of basic and diluted net loss per share (in thousands, except per share data):

		Three months ended
		September 30,
		2014			2013
	Numerator:
	Net loss	$	(5,065	)	$	(3,739	)
	Denominator:
	Weighted-average common shares outstanding		89,012			51,089
	Denominator for basic and diluted net loss per share		89,012			51,089
		$	(0.06	)	$	(0.07	)

	The following table sets forth the outstanding securities not included in the diluted net loss per common share calculation as of September 30, 2014 and 2013, because their effect would be antidilutive (in thousands):

		As of September 30,
		2014			2013
	Options to purchase common stock		5,956			5,101
	Unvested restricted stock awards		306			100
	Shares reserved for issuance upon conversion of Series A Preferred		19,147			—
	Warrants		—			3,991
	Total		25,409			9,192

Note_4_Fair_Value_Measurements

Note 4 - Fair Value Measurements	3 Months Ended
Note 4 - Fair Value Measurements	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Disclosures [Text Block]	'
	NOTE 4 - FAIR VALUE MEASUREMENTS

	ASC 820, “Fair Value Measurements,” defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. ASC 820 establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. The three levels of inputs used to measure fair value are as follows:

	Level 1 -	Quoted prices in active markets for identical assets or liabilities.

	Level 2 -	Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.

	Level 3 -	Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

	The Company does not have any liabilities that are measured at fair value on a recurring basis. All assets that are measured at fair value on a recurring basis have been segregated into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date. These assets measured at fair value are summarized below (in thousands):

			As of September 30, 2014
			Level 1		Level 2		Level 3		Total
	Short-term investments:
	Money market funds		$	12,041	$	—	$	—	$	12,041
	Short-term investments:
	Corporate debt securities			—		19,252		—		19,252
	Commercial paper			—		1,999		—		1,999
	Long-term investments:
	Corporate debt securities			—		3,552		—		3,552

	Total assets at fair value		$	12,041	$	24,803	$	—	$	36,844

			As of June 30, 2014
			Level 1		Level 2		Level 3		Total
	Cash equivalents:
	Money market funds		$	2,500	$	—	$	—	$	2,500
	Short-term investments:
	Money market funds			17,658		—		—		17,658
	Corporate debt securities			—		14,428		—		14,428
	Commercial paper			—		3,000		—		3,000
	Long-term investments:
	Corporate debt securities			—		2,315		—		2,315

	Total assets at fair value		$	20,158	$	19,743	$	—	$	39,901

	Funds held in money market instruments are included in Level 1 as their fair values are based on market prices/quotes for identical assets in active markets.

	Corporate debt securities and commercial papers are valued primarily using market prices comparable securities, bid/ask quotes, interest rate yields, and prepayment spreads and are included in Level 2.

	Cash balance of $2.9 million at June 30, 2014, was not included in the fair value hierarchy disclosure. As of September 30, 2014, the Company’s material financial assets and liabilities were reported at their current carrying values which approximate fair value given the short-term nature of less than a year, except for its note payable. As of September 30, 2014, the Company’s note payable was reported at its current carrying value which approximates fair value based on Level 3 unobservable inputs involving discounted cash flows and the estimated market rate of borrowing that could be obtained by companies with credit risk similar to the Company’s credit risk. See “Note 8 - Note Payable”.

Note_5_ShortTerm_Investments

Note 5 - Short-Term Investments	3 Months Ended
Note 5 - Short-Term Investments	Sep. 30, 2014
Disclosure Text Block Supplement [Abstract]	'
Cash, Cash Equivalents, and Short-term Investments [Text Block]	'
	NOTE 5 – SHORT-TERM INVESTMENTS

	The Company held investments in marketable securities as of September 30, 2014, and June 30, 2014, with maturity dates of less than one year.

	The Company’s short-term investments consisted of the following (in thousands):

		As of September 30, 2014
		Amortized		Gross		Gross			Fair Value
		Cost		Unrealized		Unrealized
				Gains		Losses
	Available-for-sale securities:
	Money market funds – Short-term	$	12,041	$	—	$	—		$	12,041
	Corporate debt securities – Short-term		19,265		—		(13	)		19,252
	Commercial paper – Short-term		1,999		—		—			1,999
	Corporate debt securities – Long-term		3,557		—		(5	)		3,552

	Total	$	36,862	$	—	$	(18	)	$	36,844

		As of June 30, 2014
		Amortized		Gross		Gross			Fair Value
		Cost		Unrealized		Unrealized
				Gains		Losses
	Available-for-sale securities:
	Money market funds – Short-term	$	17,658	$	—	$	—		$	17,658
	Corporate debt securities – Short-term		14,434		—		(6	)		14,428
	Commercial paper – Short-term		3,000		—		—			3,000
	Corporate debt securities – Long-term		2,319		—		(4	)		2,315

	Total	$	37,411	$	—	$	(10	)	$	37,401

Note_6_Inventories

Note 6 - Inventories	3 Months Ended
	Sep. 30, 2014
Inventory Disclosure [Abstract]	'
Inventory Disclosure [Text Block]	'
	NOTE 6 - INVENTORIES

	Inventories consisted of the following (in thousands):

		September 30,		June 30,
		2014		2014
	Raw materials	$	747	$	669
	Work in progress		316		207
	Finished goods		162		210
	Total	$	1,225	$	1,086

Note_7_Distribution_License_De

Note 7 - Distribution, License, Development and Commercialization Agreements	3 Months Ended
	Sep. 30, 2014
Disclosure Text Block [Abstract]	'
Intangible Assets Disclosure [Text Block]	'
	NOTE 7 – DISTRIBUTION, LICENSE, DEVELOPMENT AND COMMERCIALIZATION AGREEMENTS

	Century

	On September 2, 2011, the Company signed a distribution agreement (the “2011 Distribution Agreement”) with Century Medical, Inc. (“Century”) with respect to distribution of the Company’s planned microcutter products in Japan. Under the terms of a secured note purchase agreement (“the 2011 note agreement”), Century agreed to loan the Company an aggregate of up to $4.0 million, with principal due in September 30, 2016, subject to certain conditions, which principal due date was extended by two years effective July 1, 2014. Under this facility, the Company received $2.0 million on September 30, 2011, and the remaining $2.0 million on December 27, 2011. The note bears 5% annual interest which is payable quarterly in arrears through September 30, 2018, the maturity date when the total $4.0 million of principal becomes due. In return for the loan commitment, the Company granted Century distribution rights to the Company’s planned microcutter product line in Japan, and a right of first negotiation for distribution rights in Japan to future products. Century will be responsible for securing regulatory approval from the Ministry of Health in Japan for the microcutter product line. After approval for marketing in Japan, the Company would sell microcutter units to Century, who would then sell the microcutter devices to their customers in Japan.

	Proceeds from the note and granting the distribution rights were allocated to the note based on its aggregate fair value of $2.4 million at the dates of receipt. This fair value was determined by discounting cash flows using a discount rate of 18%, which the Company estimated was a market rate of borrowing that could be obtained by companies with credit risk similar to the Company’s. The remainder of the proceeds of $1.6 million was recorded as debt issuance discount and was allocated to the value of the distribution rights granted to Century under the 2011 Distribution Agreement and is included in deferred revenue. The deferred revenue will be recognized over the term of the 2011 Distribution Agreement, beginning upon the first sale by Century of the microcutter products in Japan.

	The Company’s distribution agreement with Century pertaining to the PAS-Port system, originally dated June 16, 2003, as amended, was due to expire on July 31, 2014. Concurrently and in return for the amendment of the note, as discussed above, to extend the maturity date to September 30, 2018, the Company amended its distribution agreement with Century for the PAS-Port system, effective July 1, 2014, to, among other things, renew the contract for another five years, extending the expiration date to July 31, 2019. The note amendment was accounted for as the modification of the 2011 note agreement, as the value of the consideration provided by the Company in the form of additional distribution rights was estimated to be approximately equal to the reduction in the fair value of the note. Accordingly, the Company reduced the carrying value of the note of $3.1 million to its post-modification fair value of $2.6 million, and recorded the resulting offset to incremental discount of $0.5 million as deferred revenue. The Company determined the fair value of the amended note using the discount rate of 18%, which the Company estimated as the market rate of borrowing as of the modification date that could be obtained by companies with credit risk similar to the Company’s. The incremental discount of $0.5 million will be amortized over the remaining term of the note using the effective interest rate method. The deferred revenue will be recognized over the term of the distribution agreement beginning upon the first sale by Century of the microcutter products in Japan.

	As of September 30, 2014, and June 30, 2014, the balance of the loan was $2.6 million and $3.1 million net of debt issuance costs of $1.4 million and $0.9 million, respectively, and the distribution of the microcutter products had not begun for the respective periods.

	For the three months ended September 30, 2014 and 2013, sales of automated anastomosis system to Century accounted for approximately 23% and 37%, of the Company’s total product sales. As of September 30, 2014, and June 30, 2014, Century accounted for approximately 31% and 30%, respectively, of the total accounts receivable balance.

	Intuitive Surgical

	On August 16, 2010, the Company entered into a license agreement with Intuitive Surgical (the “License Agreement”) pursuant to which the Company granted to Intuitive Surgical a worldwide, sublicenseable, exclusive license to use the Company’s intellectual property in the robotics field in diagnostic or therapeutic medical procedures, but excluding vascular anastomosis applications, for an upfront license fee of $9.0 million. The Company is also eligible to receive a contingent payment related to achieving a certain sales volume, as well as single-digit royalties on sales by Intuitive Surgical, its affiliates or its sublicensees of specified products covered by the Company’s patent rights, if any. Each party has the right to terminate the License Agreement in the event of the other party’s uncured material breach or bankruptcy. Following any termination of the License Agreement, the licenses granted to Intuitive Surgical will continue, and except in the case of termination for the Company’s uncured material breach or insolvency, Intuitive Surgical’s payment obligations will continue as well. Under the License Agreement, Intuitive Surgical has rights to improvements in the Company’s technology and intellectual property over a specified period of time.

	The Company determined that there were two substantive deliverables under the License Agreement representing separate units of accounting: license rights to technology that existed as of August 16, 2010, and license rights to technology that may be developed over the following three years. The $9.0 million upfront license payment and $1.0 million premium on the $3.0 million purchase of the Company’s common stock by Intuitive Surgical in connection with the License Agreement were aggregated and allocated to the two units of accounting based upon the relative estimated selling prices of the deliverables. The relative estimated selling prices of the deliverables were determined using a probability weighted expected return model with significant inputs relating to the nature of potential future outcomes and the probability of occurrence of future outcomes. Based upon the relative estimated selling prices of the deliverables, $9.0 million of the total consideration of $10.0 million was allocated to the license rights to technology that existed as of August 16, 2010, that has been recognized as revenue in the three months ended September 30, 2010, and $1.0 million was allocated to technology that may be developed over the following three years that was being recognized as revenue ratably over that three year period. In total, the revenue recognized for each of the three months ended September 30, 2014 and 2013, related to this arrangement was $0 and $41,000, respectively. The Company has fully recognized such revenue, and as of September 30, 2014, no deferred revenue related to this arrangement.

	Cook Incorporated

	In June 2007, the Company entered into, and in September 2007 and in June 2009 amended, a license, development and commercialization agreement with Cook Incorporated, to develop and commercialize a specialized device, which the Company refers to as the PFO Device, designed to close holes in the heart from genetic heart defects known as patent foramen ovales (“PFOs”). Under the agreement, Cook funded certain development activities and the Company and Cook jointly developed the PFO Device. The Company’s significant deliverables under the arrangement were the license rights and the associated development activities. These deliverables were determined to represent one unit of accounting as there was no stand-alone value to the license rights. If developed, Cook would receive an exclusive, worldwide, royalty-bearing license, with the right to grant sublicenses, to make, have made, use, sell, offer for sale and import the PFO Device. The Company did not record any license and development revenue under this agreement for the three months ended September 30, 2014 or 2013. Amounts paid but not yet earned on the project are recorded as deferred revenue until such time as the related development expenses for certain project activities are incurred. A total of $0.4 million under this agreement had been recorded as deferred revenue as of September 30, 2014, and June 30, 2014. On January 6, 2010, the Company and Cook mutually agreed to suspend work on the PFO project and, accordingly, the Company does not anticipate receiving any additional payments or recording any additional revenue related to this agreement in the foreseeable future.

Note_8_Note_Payable

Note 8 - Note Payable	3 Months Ended
Note 8 - Note Payable	Sep. 30, 2014
Debt Disclosure [Abstract]	'
Debt Disclosure [Text Block]	'
	NOTE 8 – NOTE PAYABLE

	In connection with the 2011 Distribution Agreement with Century (see Note 7, Distribution, License, Development and Commercialization Agreements), the Company entered into a secured note purchase agreement and a related security agreement pursuant to which Century agreed to loan to the Company up to an aggregate of $4.0 million and the secured note purchase agreement was amended effective July 1, 2014, to extend the principal due date by two years. Under this facility, the Company received $2.0 million on September 30, 2011, and the remaining $2.0 million on December 27, 2011. The note bears 5% annual interest which is payable quarterly in arrears on the last business day of March, June, September and December of each year through September 30, 2018, the maturity date when the total $4.0 million of principal becomes due, and can be prepaid by the Company at any time without penalty. The original debt issuance discount of approximately $1.6 million, determined by discounting cash flows using a discount rate of 18%, which the Company estimated a market rate of borrowing that could be obtained by companies with credit risk similar to the Company’s, was reflected as a reduction in long-term debt and was being amortized as interest expense over the term of the note using the effective interest method.

	The amendment effective July 1, 2014, was in connection with the extension of Century’s distribution rights for the PAS-Port system, and was accounted for as the modification of the 2011 note agreement, as the value of the consideration provided by the Company in the form of additional distribution rights was estimated to be approximately equal to the reduction in the fair value of the note. Accordingly, the Company reduced the carrying value of the note of $3.1 million to its post-modification fair value of $2.6 million, and recorded the resulting offset to incremental discount of $0.5 million as deferred revenue. The Company determined the fair value of the amended note using the discount rate of 18%, which the Company estimated as the market rate of borrowing as of the modification date that could be obtained by companies with credit risk similar to the Company’s. The incremental discount of $0.5 million will be amortized over the remaining term of the note using the effective interest rate method. The deferred revenue will be recognized over the term of the distribution agreement beginning upon the first sale by Century of the microcutter products in Japan. The note is secured by a substantial portion of the Company's assets, including the Company’s intellectual property related to the PAS-Port® Proximal Anastomosis System, but excluding all other intellectual property. As of September 30, 2014, and June 30, 2014, the balance of the loan was $2.6 million and $3.1 million net of debt issuance costs of $1.4 million and $0.9 million, respectively, and the distribution of the microcutter products had not begun for the respective periods.

Note_9_Amended_Lease_Agreement

Note 9 - Amended Lease Agreement	3 Months Ended
	Sep. 30, 2014
Leases [Abstract]	'
Leases of Lessee Disclosure [Text Block]	'
	NOTE 9 – AMENDED LEASE AGREEMENT

	On November 11, 2010, the Company entered into an amendment to its facility lease (the “Lease Amendment”). Pursuant to the Lease Amendment, the term of the lease was extended by four years, through August 31, 2015, and the Company was granted an improvement allowance of $0.1 million to be used in connection with the construction of alterations and refurbishment of improvements in the premises, which was used and reimbursed in November 2011, and January 2012. The leasehold improvement allowance will be recorded as a reduction of rent expense on a straight-line basis over the term of the lease. In addition, under the Lease Amendment, the Company was granted an option to further extend the lease for a period of two years beyond August 31, 2015 (the “Option Term”), with the annual rent payable by the Company during the Option Term to be equal to the annual rent for comparable buildings, as described in the Lease Amendment. Under the operating lease, the Company is required to maintain a letter of credit with a restricted cash balance at the Company’s bank. A certificate of deposit of $0.1 million was recorded as restricted cash in the condensed consolidated balance sheet as of September 30, 2014, and June 30, 2014, related to the letter of credit.

	Future minimum lease payments under the Company’s non-cancelable operating leases having initial terms of a year or more as of September 30, 2014, including the Lease Amendment, are as follows (in thousands):

	Fiscal year ending June 30,	Operating
		Leases
	2015 (remaining nine months)	$	522
	2016		118
	Total minimum lease payments	$	640

Accounting_Policies_by_Policy_

Accounting Policies, by Policy (Policies)	3 Months Ended
Accounting Policies, by Policy (Policies)	Sep. 30, 2014
Accounting Policies [Abstract]	'
Basis of Accounting, Policy [Policy Text Block]	'
	Basis of Presentation

	The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual financial statements. In the opinion of management, all adjustments, consisting only of normal recurring adjustments necessary for the fair statement of balances and results have been included. The results of operations of any interim period are not necessarily indicative of the results of operations for the full year or any other interim period.

	The accompanying condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto for the fiscal year ended June 30, 2014, included in the Company’s Form 10-K filed with the Securities and Exchange Commission on September 25, 2014.
New Accounting Pronouncements, Policy [Policy Text Block]	'
	Recently Issued Accounting Standards

	In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606): Revenue from Contracts with Customers, which guidance in this update will supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance when it becomes effective. ASU No. 2014-09 affects any entity that enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards. The core principal of ASU No. 2014-09 is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under current guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. ASU No. 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, which will be the Company’s fiscal year 2018 (or July 1, 2017), and entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. Early adoption is prohibited. The Company will be evaluating the impact of the adoption of this guidance on the Company’s financial statements.

	In July 2013, the FASB issued an accounting standard update which states that an unrecognized tax benefit should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. In situations where a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction or the tax law of the jurisdiction does not require, and the entity does not intend to use the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The guidance will be effective prospectively for reporting periods beginning after December 15, 2013. The Company does not expect the adoption of this guidance to have a material impact on the Company’s financial statements.
Use of Estimates, Policy [Policy Text Block]	'
	Use of Estimates

	The preparation of financial statements in conformity with GAAP generally requires management to make estimates and assumptions that affect the amounts reported in the financial statements. Significant estimates include the valuation of inventory, measurement of stock based compensation, valuation of financial instruments and revenue recognition. Actual results could materially differ from these estimates.
Revenue Recognition, Policy [Policy Text Block]	'
	Revenue Recognition

	The Company recognizes revenue when four basic criteria are met: (1) persuasive evidence of an arrangement exists; (2) title or rights have transferred; (3) the fee is fixed or determinable; and (4) collectability is reasonably assured. The Company uses contracts and customer purchase orders to determine the existence of an arrangement. The Company uses contractual terms, shipping documents and third-party proof of delivery to verify that title or rights have transferred. The Company assesses whether the fee is fixed or determinable based upon the terms of the agreement associated with the transaction. To determine whether collection is probable, the Company assesses a number of factors, including past transaction history with the customer and the creditworthiness of the customer. If the Company determines that collection is not reasonably assured, then the recognition of revenue is deferred until collection becomes reasonably assured, which is generally upon receipt of payment.

	The Company records product sales net of estimated product returns and discounts from the list prices for its products. The amounts of product returns and the discount amounts have not been material to date. The Company’s sales to distributors do not include price protection or product return rights, outside of standard warranties. The Company includes shipping and handling costs in cost of product sales.

	Payments that are contingent upon the achievement of a substantive milestone are recognized in their entirety in the period in which the milestone is achieved, subject to satisfaction of all revenue recognition criteria at that time. Revenue generated from license fees and performing development services is recognized when it is earned and non-refundable upon receipt of payments, over the period of performance, or upon incurrence of the related development expenses in accordance with contractual terms, based on the actual costs incurred to date plus overhead costs for certain project activities. Amounts paid but not yet earned on a project are recorded as deferred revenue until such time as the related development expenses plus overhead costs for certain project activities are incurred.
Inventory, Policy [Policy Text Block]	'
	Inventories

	Inventories are recorded at the lower of cost or market on a first-in, first-out basis. The Company periodically assesses the recoverability of all inventories, including materials, work-in-process and finished goods, by comparing the cost of inventory to expected selling prices to determine whether adjustments for impairment are required. Inventory that is obsolete or in excess of forecasted usage is written down to its estimated net realizable value based on assumptions about future demand and market conditions. Reduced demand may result in the need for inventory write-downs in the near term. Inventory write-downs are charged to cost of product sales and establish a lower cost basis for the inventory.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	'
	Risks and Uncertainties

	The Company depends upon a number of key suppliers, including single source suppliers, the loss of which would materially harm the Company’s business. Single source suppliers are relied upon for certain components and services used in manufacturing the Company’s products. The Company does not have long-term contracts with any of the suppliers; rather, purchase orders are submitted for each order. Because long-term contracts do not exist, none of the suppliers are required to provide the Company any guaranteed minimum quantities.

Note_2_Stockholders_Equity_Tab

Note 2 - Stockholders' Equity (Tables)	3 Months Ended
Note 2 - Stockholders' Equity (Tables)	Sep. 30, 2014
Stockholders' Equity Note [Abstract]	'
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	'
		Three months ended
		September 30,
		2014				2013
	Risk-free interest rate	1.59%	-	1.65%		1.18%	-	1.20%
	Weighted-average expected term (years)	4.83	-	4.86		4.52	-	4.58
	Expected volatility	71.00%	-	72.10%		79.40%	-	79.70%
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	'
		Three months ended
		September 30,
		2014			2013
	Cost of product sales	$	30		$	16
	Research and development		63			(28	)
	Selling, general and administrative		220			101
	Total	$	313		$	89

Note_3_Net_Loss_Per_Share_Tabl

Note 3 - Net Loss Per Share (Tables)	3 Months Ended
Note 3 - Net Loss Per Share (Tables)	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	'
		Three months ended
		September 30,
		2014			2013
	Numerator:
	Net loss	$	(5,065	)	$	(3,739	)
	Denominator:
	Weighted-average common shares outstanding		89,012			51,089
	Denominator for basic and diluted net loss per share		89,012			51,089
		$	(0.06	)	$	(0.07	)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	'
		As of September 30,
		2014			2013
	Options to purchase common stock		5,956			5,101
	Unvested restricted stock awards		306			100
	Shares reserved for issuance upon conversion of Series A Preferred		19,147			—
	Warrants		—			3,991
	Total		25,409			9,192

Note_4_Fair_Value_Measurements1

Note 4 - Fair Value Measurements (Tables)	3 Months Ended
Note 4 - Fair Value Measurements (Tables)	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	'
		As of September 30, 2014
		Level 1		Level 2		Level 3		Total
	Short-term investments:
	Money market funds	$	12,041	$	—	$	—	$	12,041
	Short-term investments:
	Corporate debt securities		—		19,252		—		19,252
	Commercial paper		—		1,999		—		1,999
	Long-term investments:
	Corporate debt securities		—		3,552		—		3,552

	Total assets at fair value	$	12,041	$	24,803	$	—	$	36,844
		As of June 30, 2014
		Level 1		Level 2		Level 3		Total
	Cash equivalents:
	Money market funds	$	2,500	$	—	$	—	$	2,500
	Short-term investments:
	Money market funds		17,658		—		—		17,658
	Corporate debt securities		—		14,428		—		14,428
	Commercial paper		—		3,000		—		3,000
	Long-term investments:
	Corporate debt securities		—		2,315		—		2,315

	Total assets at fair value	$	20,158	$	19,743	$	—	$	39,901

Note_5_ShortTerm_Investments_T

Note 5 - Short-Term Investments (Tables)	3 Months Ended
Note 5 - Short-Term Investments (Tables)	Sep. 30, 2014
Disclosure Text Block Supplement [Abstract]	'
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	'
		As of September 30, 2014
		Amortized		Gross		Gross			Fair Value
		Cost		Unrealized		Unrealized
				Gains		Losses
	Available-for-sale securities:
	Money market funds – Short-term	$	12,041	$	—	$	—		$	12,041
	Corporate debt securities – Short-term		19,265		—		(13	)		19,252
	Commercial paper – Short-term		1,999		—		—			1,999
	Corporate debt securities – Long-term		3,557		—		(5	)		3,552

	Total	$	36,862	$	—	$	(18	)	$	36,844
		As of June 30, 2014
		Amortized		Gross		Gross			Fair Value
		Cost		Unrealized		Unrealized
				Gains		Losses
	Available-for-sale securities:
	Money market funds – Short-term	$	17,658	$	—	$	—		$	17,658
	Corporate debt securities – Short-term		14,434		—		(6	)		14,428
	Commercial paper – Short-term		3,000		—		—			3,000
	Corporate debt securities – Long-term		2,319		—		(4	)		2,315

	Total	$	37,411	$	—	$	(10	)	$	37,401

Note_6_Inventories_Tables

Note 6 - Inventories (Tables)	3 Months Ended
Note 6 - Inventories (Tables)	Sep. 30, 2014
Inventory Disclosure [Abstract]	'
Schedule of Inventory, Current [Table Text Block]	'
		September 30,		June 30,
		2014		2014
	Raw materials	$	747	$	669
	Work in progress		316		207
	Finished goods		162		210
	Total	$	1,225	$	1,086

Note_9_Amended_Lease_Agreement1

Note 9 - Amended Lease Agreement (Tables)	3 Months Ended
	Sep. 30, 2014
Leases [Abstract]	'
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	'
	Fiscal year ending June 30,	Operating
		Leases
	2015 (remaining nine months)	$	522
	2016		118
	Total minimum lease payments	$	640

Note_1_Summary_of_Significant_1

Note 1 - Summary of Significant Accounting Policies (Details) (USD $)	3 Months Ended				22 Months Ended	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014
			MicroCutter XCHANGE 30 [Member]	MicroCutter XCHANGE 30 [Member]	MicroCutter XCHANGE 30 [Member]	Automated Anastomotic Systems [Member]
			Sales Revenue, Product Line [Member]
			Product Concentration Risk [Member]
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items]	'	'	'	'	'	'
Concentration Risk, Percentage	'	'	40.00%	'	'	'
Revenue, Net	$1,068	$805	'	$400	$1,100	$700

Note_2_Stockholders_Equity_Det

Note 2 - Stockholders' Equity (Details) (USD $)	1 Months Ended	3 Months Ended		1 Months Ended		3 Months Ended		38 Months Ended		1 Months Ended
	Apr. 30, 2014	Sep. 30, 2014	Sep. 30, 2013	Apr. 30, 2014	Jun. 30, 2014	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Aug. 03, 2011	Apr. 30, 2014
				Series A Preferred Stock [Member]	Series A Preferred Stock [Member]	Common Stock [Member]	Common Stock [Member]	Common Stock [Member]	Common Stock [Member]	Common Stock [Member]
						MLV [Member]	MLV [Member]	MLV [Member]	MLV [Member]
Note 2 - Stockholders' Equity (Details) [Line Items]	'	'	'	'	'	'	'	'	'	'
Stock Issued During Period, Shares, New Issues (in Shares)	'	'	'	191,474	'	0	97,405	884,756	'	37,375,000
Share Price (in Dollars per share)	'	'	'	$85	'	'	'	'	'	$0.85
Convertible Preferred Stock, Shares Issued upon Conversion (in Shares)	'	'	'	100	'	'	'	'	'	'
Common Stock Ownership Threshold, Preferred Stock Conversion	'	'	'	9.98%	'	'	'	'	'	'
Proceeds from Issuance or Sale of Equity	$44,700,000	'	'	'	'	'	'	'	'	'
Dividends Payable	'	'	'	'	1,900,000	'	'	'	'	'
Aggregate Value of Shares Committed to Be Purchased	'	'	'	'	'	'	'	'	10,000,000	'
Proceeds from Issuance of Common Stock	'	-20,000	111,000	'	'	0	100,000	1,200,000	'	'
Allocated Share-based Compensation Expense	'	200,000	100,000	'	'	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price (in Dollars per share)	'	$0	$0	'	'	'	'	'	'	'
Issuance of Stock and Warrants for Services or Claims	'	100,000	4,000	'	'	'	'	'	'	'
Non-employee Share-based Compensation Arrangement by Share-based Paymen Award, Fair Value Assumptions, Exercise Price (in Dollars per share)	'	$0	$0	'	'	'	'	'	'	'
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	'	$800,000	'	'	'	'	'	'	'	'
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	'	'3 years 73 days	'	'	'	'	'	'	'	'

Note_2_Stockholders_Equity_Det1

Note 2 - Stockholders' Equity (Details) - Black-Scholes Valuation Assumptions	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Minimum [Member]	'	'
Note 2 - Stockholders' Equity (Details) - Black-Scholes Valuation Assumptions [Line Items]	'	'
Risk-free interest rate	1.59%	1.18%
Weighted-average expected term (years)	'4 years 302 days	'4 years 189 days
Expected volatility	71.00%	79.40%
Maximum [Member]	'	'
Note 2 - Stockholders' Equity (Details) - Black-Scholes Valuation Assumptions [Line Items]	'	'
Risk-free interest rate	1.65%	1.20%
Weighted-average expected term (years)	'4 years 313 days	'4 years 211 days
Expected volatility	72.10%	79.70%

Note_2_Stockholders_Equity_Det2

Note 2 - Stockholders' Equity (Details) - Non-Cash Stock-Based Compensation (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]	'	'
Allocated share-based compensation expense	$313	$89
Cost of Sales [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]	'	'
Allocated share-based compensation expense	30	16
Research and Development Expense [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]	'	'
Allocated share-based compensation expense	63	-28
Selling, General and Administrative Expenses [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]	'	'
Allocated share-based compensation expense	$220	$101

Note_3_Net_Loss_Per_Share_Deta

Note 3 - Net Loss Per Share (Details) - Computation of Basic and Diluted Net Income (Loss) Per Share (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Computation of Basic and Diluted Net Income (Loss) Per Share [Abstract]	'	'
Net loss (in Dollars)	($5,065)	($3,739)
Denominator:	'	'
Weighted-average common shares outstanding	89,012	51,089
Denominator for basic and diluted net loss per share	89,012	51,089
(in Dollars per share)	($0.06)	($0.07)

Note_3_Net_Loss_Per_Share_Deta1

Note 3 - Net Loss Per Share (Details) - Antidilutive Securities Excluded from Computation of Earnings Per Share	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive Securities	25,409	9,192
Equity Option [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive Securities	5,956	5,101
Restricted Stock [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive Securities	306	100
Common Stock, Shares Reserved for Future Issuance [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive Securities	19,147	'
Warrant [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive Securities	'	3,991

Note_4_Fair_Value_Measurements2

Note 4 - Fair Value Measurements (Details) (USD $)	Jun. 30, 2014
In Millions, unless otherwise specified	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Cash	$2.90

Note_4_Fair_Value_Measurements3

Note 4 - Fair Value Measurements (Details) - Fair Value Measurements (USD $)	Sep. 30, 2014	Jun. 30, 2014
In Thousands, unless otherwise specified	Sep. 30, 2014	Jun. 30, 2014
Note 4 - Fair Value Measurements (Details) - Fair Value Measurements [Line Items]	'	'
Total assets at fair value	$36,844	$39,901
Corporate Debt Securities [Member] \| Fair Value, Inputs, Level 2 [Member]	'	'
Note 4 - Fair Value Measurements (Details) - Fair Value Measurements [Line Items]	'	'
Short-term investments	19,252	14,428
Corporate debt securities	3,552	2,315
Corporate Debt Securities [Member]	'	'
Note 4 - Fair Value Measurements (Details) - Fair Value Measurements [Line Items]	'	'
Short-term investments	19,252	14,428
Corporate debt securities	3,552	2,315
Commercial Paper [Member] \| Fair Value, Inputs, Level 2 [Member]	'	'
Note 4 - Fair Value Measurements (Details) - Fair Value Measurements [Line Items]	'	'
Short-term investments	1,999	3,000
Commercial Paper [Member]	'	'
Note 4 - Fair Value Measurements (Details) - Fair Value Measurements [Line Items]	'	'
Short-term investments	1,999	3,000
Money Market Funds [Member] \| Fair Value, Inputs, Level 1 [Member]	'	'
Note 4 - Fair Value Measurements (Details) - Fair Value Measurements [Line Items]	'	'
Short-term investments	'	17,658
Money Market Funds [Member]	'	'
Note 4 - Fair Value Measurements (Details) - Fair Value Measurements [Line Items]	'	'
Short-term investments	'	17,658
Fair Value, Inputs, Level 1 [Member] \| Money Market Funds [Member]	'	'
Note 4 - Fair Value Measurements (Details) - Fair Value Measurements [Line Items]	'	'
Cash equivalents	12,041	2,500
Fair Value, Inputs, Level 1 [Member]	'	'
Note 4 - Fair Value Measurements (Details) - Fair Value Measurements [Line Items]	'	'
Total assets at fair value	12,041	20,158
Fair Value, Inputs, Level 2 [Member]	'	'
Note 4 - Fair Value Measurements (Details) - Fair Value Measurements [Line Items]	'	'
Total assets at fair value	24,803	19,743
Money Market Funds [Member]	'	'
Note 4 - Fair Value Measurements (Details) - Fair Value Measurements [Line Items]	'	'
Cash equivalents	$12,041	$2,500

Note_5_ShortTerm_Investments_D

Note 5 - Short-Term Investments (Details) - Short-Term Investments (USD $)	Sep. 30, 2014	Jun. 30, 2014
In Thousands, unless otherwise specified	Sep. 30, 2014	Jun. 30, 2014
Available-for-sale securities:	'	'
Amortized Cost	$36,862	$37,411
Gross Unrealized Losses	-18	-10
Fair Value	36,844	37,401
Corporate Debt Securities [Member]	'	'
Available-for-sale securities:	'	'
Amortized Cost	19,265	14,434
Gross Unrealized Losses	-13	-6
Fair Value	19,252	14,428
Commercial Paper, Not Included with Cash and Cash Equivalents [Member]	'	'
Available-for-sale securities:	'	'
Amortized Cost	1,999	3,000
Fair Value	1,999	3,000
Corporate Bond Securities [Member]	'	'
Available-for-sale securities:	'	'
Amortized Cost	3,557	2,319
Gross Unrealized Losses	-5	-4
Fair Value	3,552	2,315
Money Market Funds [Member]	'	'
Available-for-sale securities:	'	'
Amortized Cost	12,041	17,658
Fair Value	$12,041	$17,658

Note_6_Inventories_Details_Inv

Note 6 - Inventories (Details) - Inventories (USD $)	Sep. 30, 2014	Jun. 30, 2014
In Thousands, unless otherwise specified	Sep. 30, 2014	Jun. 30, 2014
Inventories [Abstract]	'	'
Raw materials	$747	$669
Work in progress	316	207
Finished goods	162	210
Total	$1,225	$1,086

Note_7_Distribution_License_De1

Note 7 - Distribution, License, Development and Commercialization Agreements (Details) (USD $)

Sep. 30, 2014

Jun. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Aug. 16, 2010

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2010

Aug. 16, 2010

Sep. 30, 2014

Sep. 30, 2013

Jun. 30, 2014

Sep. 02, 2011

Sep. 30, 2014

Dec. 31, 2011

Sep. 02, 2011

Dec. 27, 2011

Sep. 30, 2011

Sep. 30, 2014

Jun. 30, 2014

Sep. 30, 2014

Sep. 02, 2011

Licensing Agreements [Member]

Century Medical [Member]

Intuitive Surgical [Member]

Cook Incorporated [Member]

Notes Payable, Other Payables [Member]

Century Medical [Member]

Sales Revenue, Net [Member]

Accounts Receivable [Member]

Century Medical [Member]

Product Concentration Risk [Member]

Customer Concentration Risk [Member]

Note 7 - Distribution, License, Development and Commercialization Agreements (Details) [Line Items]

Debt Instrument, Face Amount

$4,000,000

Proceeds from Secured Notes Payable

2,000,000

Debt Instrument, Interest Rate, Stated Percentage

5.00%

Notes Payable, Fair Value Disclosure

2,600,000

3,100,000

2,600,000

2,400,000

Fair Value Inputs, Discount Rate

18.00%

Debt Instrument, Unamortized Discount

500,000

1,600,000

Distribution Agreement, Term of Extension

'5 years

Deferred Revenue

500,000

Notes Payable, Noncurrent

2,637,000

3,092,000

2,600,000

3,100,000

2,600,000

Debt Issuance Cost

1,400,000

900,000

1,400,000

Concentration Risk, Percentage

23.00%

37.00%

31.00%

30.00%

Licenses Revenue

9,000,000

41,000

Common Stock Premium

1,000,000

Common Stock, Value, Issued

89,000

3,000,000

Noncash or Part Noncash Divestiture, Amount of Consideration Received

10,000,000

Deferred Revenue, Noncurrent

2,125,000

1,610,000

1,000,000

Deferred Revenue, Current

403,000

400,000

Intangible Assets, Gross (Excluding Goodwill)

Note_8_Note_Payable_Details

Note 8 - Note Payable (Details) (USD $)

Sep. 30, 2014

Jun. 30, 2014

Sep. 02, 2011

Sep. 30, 2014

Dec. 31, 2011

Sep. 02, 2011

Dec. 27, 2011

Sep. 30, 2011

Sep. 30, 2014

Jun. 30, 2014

Sep. 30, 2014

Sep. 02, 2011

Notes Payable, Other Payables [Member]

Century Medical [Member]

Note 8 - Note Payable (Details) [Line Items]

Debt Instrument, Face Amount

$4,000,000

Proceeds from Secured Notes Payable

2,000,000

Debt Instrument, Interest Rate, Stated Percentage

5.00%

Debt Instrument, Unamortized Discount

500,000

1,600,000

Fair Value Inputs, Discount Rate

18.00%

Notes Payable, Fair Value Disclosure

2,600,000

3,100,000

2,600,000

2,400,000

Deferred Revenue

500,000

Notes Payable, Noncurrent

2,637,000

3,092,000

2,600,000

3,100,000

2,600,000

Debt Issuance Cost

$1,400,000

$900,000

$1,400,000

Note_9_Amended_Lease_Agreement2

Note 9 - Amended Lease Agreement (Details) (USD $)	Sep. 30, 2014	Jun. 30, 2014	Jun. 30, 2012
Note 9 - Amended Lease Agreement (Details) [Line Items]	'	'	'
Leasehold Improvements, Gross	'	'	$100,000
Restricted Cash and Cash Equivalents	104,000	104,000	'
Restricted Cash Letter Of Credit [Member]	'	'	'
Note 9 - Amended Lease Agreement (Details) [Line Items]	'	'	'
Restricted Cash and Cash Equivalents	$100,000	$100,000	'

Note_9_Amended_Lease_Agreement3

Note 9 - Amended Lease Agreement (Details) - Future Minimum Lease Payments for Operating Leases (USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified	Sep. 30, 2014
Future Minimum Lease Payments for Operating Leases [Abstract]	'
2015 (remaining nine months)	$522
2016	118
Total minimum lease payments	$640